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Gold slips below $2760 as Fed pause looms
27-Jan-25 13:41 Hrs IST
Gold prices dipped below $2760 per ounce in Asian electronic trades on Monday as investors awaited the U.S. Federal Reserve's policy decision this week. The Fed is expected to hold rates steady, pausing its rate-cutting cycle, but President Trump's call for further cuts keeps the market on edge. Gold, a traditional inflation hedge, faces pressure as Trump's inflationary policies could push the Fed to keep rates higher for longer, capping the metal's rally. Last year, gold surged nearly 30%, hitting a record high of $2801 in October 2024 amid global uncertainties and Fed rate cuts. A strong U.S. dollar, buoyed by fresh tariff threats on Colombia, added to the downward momentum. Domestically, MCX February gold futures were down Rs 316, trading at Rs 79,710 per 10 grams.
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